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tv   The Claman Countdown  FOX Business  November 22, 2023 3:00pm-4:00pm EST

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weeds have no indication of connection with migrant shelters and protests but the question is what are their capabilities and motivations, with the protests. liz: a couple seconds. i want your final thoughts as americans and new yorkers get ready to celebrate the holiday. >> be aware. do what you want to do. make sure you have your awareness about you. make sure you know where your families are, do that, go and enjoy the parade. be aware of the moment. liz: appreciate it. following breaking news, attempted terrorist attack at the northern border. liz claman over to you, we have
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a dip in the dow. we 've not seen much happening with the numbers. liz: you are right. these influence moments looking at them closely and watching markets at the same time. those who are joining us. we begin with breaking news, the rainbow bridge at the us canada border. a car explosion is being investigated. as a terrorist attack to. the fbi is on the scene, tear experts on the scene, shortly before noon. two people in a car approached the new york checkpoint from the canada border, and and as
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they approached the border patrol building, the car exploded, the two people inside the car killed. a border patrol officer was injured and fox news reporting sources telling us explosives were found in the vehicle. all government buildings have been evacuated. senator chuck schumer of new york is closely watching the situation and will tweet out any news he is able to report. we will keep an eye on the situation and bring you any breaking developments as they happen. in the meantime, let us get to the markets, and we got to turn to the nasdaq. in and of itself that's not huge, it has more importance when you back away from a
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couple hours of this session. if you look at november's performance the nasdaq locked its best three week point again and the markets closed tomorrow, hit a new record after friday's half-day session. the tech heavy index has to word. 11% this month. the dow and the s&p, we see gains for the s&p up 16, the dow up, the nasdaq down 157. the dow would be higher of caterpillar were not falling in sympathy with dearee which had a sales outlook this morning get, we will get you the details on that but cat is down 1.5%. we've got breaking news on oil slipping and sliding all over the place but first, this has got to be the fastest backtracking in history by a board of directors.
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it turned out to be a few hours before sam altman who was fired as ceo of open ai would be reinstated. it came to pass. it has been a 5 day disarray after altman was summarily fired by the board and rehired amino threatened mutiny by employees and investors. one tech journalist criticizing the board's moves as a, quote, goat rodeo. those who don't know what a goat rodeo it is slang for something going disastrously wrong that there is nothing left to do but sit back and watch the train wreck. we have countdown coverage of this 180 °, the first venture capitalist to invest 9 years ago, we will ask about the behind-the-scenes drama, whether the company's
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evaluation which plummeted can reclaim that hype but first to kelly o'grady on how they have gone from fired to hired. leaving the board left him dazed and confused. >> reporter: it shows how much sam altman is in the driver's seat. sources confirmed to me this indeed began as a budding of heads between part of the board that wanted to proceed carefully and altman who was against prioritize profits. he's fired friday, two days later, welcomed by open arms by microsoft who had a $13 billion investment in the proper arm and perpetual license for all of its ip. then you've got hundreds of employees threatening to quit and altman is back in the returning hero. he said i love open ai and everything i've done the past few days has been in service of keeping this team and its mission together. interesting when microsoft
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jumped a strategy of togetherness. in addition to altman returning as ceo, the board has been getting, the new board will be led by former sales for ceo brett taylor and include former treasury secretary larry summers. the old guard will retain one seat. a big priority will be to add new government members and altman will not take a seat at the table until microsoft is going to snag a spot. unsurprising source confirmed to me the tech giant issued that it was blindsided by altman's firing. this on x, we are encouraged by the changes to the open ai board, we believe this is the first essential step on a path to more stable, well-informed and effective governance. microsoft hit a record high today, this leaves them in a good spot, more influence at open ai and as a public company, they don't have to develop the tech in house. in-house. i go back to something i guest
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said on your show yesterday. >> this will be the biggest unforced error in the history of silicon valley. >> this means when he wins out. that's fantastic for investors but the jury is still out on what that means for ai safety. liz: aside from microsoft, the open ai investor probably most infuriated by altman's firing had to be the venture capitalist to 9 years ago became one of the best earlier investors in the leading global ai company. we managed to get him before the camera. let's start with the news breaking, what was the got reaction that sam altman had been rehired?
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>> lunchtime on friday, i don't think this is over. through all the ups and downs. i'm glad we are better off today than we were thursday night. liz: what do you mean by it is not over? >> i was sure there would be a lot of pressure for sam to return. there was a lot of support for sam among his employees. it was exciting to see the board acknowledge that. frankly happy to see two board members. liz: one was the chief science officer who had given sam the news. let me back up. how and when did you first hear that sam was fired? >> i heard about it around lunch time, earlier that day.
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i was not referring to ilia which raised concerns but it was -- had no business being on the board, no sense of what they were doing, more aligned to their religious philosophy around ea, a very unfortunate religion for anybody in that responsible position. liz: ea is effective all truism meaning whatever you make you give to philanthropic efforts. it is very sam bankman-fried, who will spend a lot of time in prison after his crypto fraud but the board's stated reason was sam was not consistently candid in his communications with the board. no other explanation. aside from the fact, what
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unfairly impugn sam's reputation to leave everyone say what did sam do, did you pick up the phone and say what is going on, what happened? >> i think the board made this decision in isolation and as i am told, none of them were willing to explain what the reason was, what did he not be candid on and that is an excuse for something they made a huge mistake on and were trying to cover up. i am glad the back pressure worked very well. liz: there was pressure from the employee base almost immediately, they threaten to quit unless sam was invited back. you might have seen this already but i would like to
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show you a tweet. time stamped 244 a.m. eastern, around 11:4:04 pm, pacific, from open ai president greg rockman who resigned after sam was pushed out and has been reinstated now, shows a group of employees with the caption we are so back. how much did the threat exodus of employees player? play? >> i'm sure it played a large role and they underestimated the part of employees, it is ridiculous for border 2 or 3 people to go against 95% of employees, more valuable and exciting companies in america today. liz: you invested in this company which was nowhere near the $90 billion valuation that it had just before sam's firing. you invested around 50 million.
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there is a financial component, and i'm sure many of the others brought it to the point where so many millions of people were using chat gpt, exponential opportunities for this. you think it takes a long time to get it back to $90 billion. we talk to equities which understand the secondary market of shares of privately held companies, they said it could have gone down to 0. >> it is other investors perception as to what something is worth, open ai is not a public entity. we will be back to the same place. we will let investors decide where we are, prices get set in the next few weeks.
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liz: let's explain how you look at the board and what they did when they fired sam. >> we have a better board, the company is better off this incident but employees are more energized by the team and that's good for the company, the company is more energized by the development but we are not done with governments, over the next however many months or years, have to build governments better and see how we do with all stakeholders. liz: what do you think about calling this a goat rodeo which means a complete train wreck? >> it was almost comical if it
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wasn't such a serious misadventure. it would be comical. liz: appreciate you coming on today. one of the earliest if not the earliest venture capitalist to invest in open ai, your perspectives are informed, thank you so much. >> it is important not only for us and everybody else in america, but the people who are most affected by slowing ai down, or a hypothetical risk i never understood or could research, researchers told me they don't understand what this nonsensical claim is. we should keep things in balance between all the benefits provided by such technology as well as risks,
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acknowledge the basket of risks. the biggest is china interfering with the election next year. liz: happy holidays, thank you very much. more on the attempted terror attack at the rainbow bridge in niagara falls, they are tightening security and border crossings again, this is the border between new york and canada, train stations, airports are now crawling with fbi and police at a check on markets to rate ahead. dow jones industrials up 169 points. liberty mutual customized my car insurance and i saved hundreds. with the money i saved, i started a dog walking business. i was a bit nervous at first but then i figured it's just walking, right?
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shaken after a suspected terror attack at the rainbow bridge border crossing in niagara falls in new york. the white house confirming in the last few minutes that president biden has been briefed on the situation. he is currently in nantucket, massachusetts, for the thanks giving holiday. the joint terrorism task force is on the scene and has begun an investigation. sources tell fox news the two people in the car who had approached the border crossing when it exploded are dead and a border patrol officer has been injured. new york city mayor eric adams has released this statement. the nypd and team have been monitoring the situation after an explosion at the rainbow bridge, we've already sent nypd officers upstate to support efforts on the ground. the nypd and our partners have enhanced security, the city is on heightened alert due to the
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upcoming holiday. the public will see increased security, including entry and exit points into and out of the city. the markets, looking at intraday, about 175 points, the s&p gaining 17, the nasdaq up 70, half of one% gain, the russell 2,000 up 11 points, stocks holding onto gains as treasury yields are rising, 10 year treasury yield, what was down and is up one. 5 basis points, lifting off a 2 month low-month low, it stands at 4.413%, it closed yesterday at 4.418%. climbing back to yesterday's close. the big story we've got to get to his crude oil. it is down 1% but actually
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recovering after slumping to a low $70 a barrel during regular session. it's in the aftermarket of $7.93. wti, west texas intermediate, began a retreat after now to get would delay its meeting scheduled for this sunday and delaying it until november 30th. cartel members are bickering over production levels as the price drops. energy names on that news, the worst performers including baker hughes, occidental petroleum and diamondback mg. you know who is doing well? airlines are taking flight right now. american and united up 1.3%, and guess who else? the cruise lines steaming quite quickly ahead.
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the region up a quarter of one% and royal caribbean 12:45% and royal caribbean 1/3 of 1%. food and fuel is less expensive. the overall market as we edge closer to year end, the indices have absolutely rocked 2023. reuters take up all, market experts, 46% said most stock indices will touch richard -- record highs in the next 6 months. let's get to our floor show, teddy weisberg. 46 out of 82, describe the trading you see before thanksgiving, thin volume whether you can judge what is happening in 2024. >> it is anybody's guess.
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what the market doesn't next six months is interesting. october was by all measure a difficult month, the institutions, markets ended in november. a lot of cash on the sidelines, the fed minutes, very little surprise there. the fed remains difficult, looks like you combined all this money on the sidelines and oversold markets technically. the santa claus rally a few weeks early but overall the market looks pretty good. probably in pretty good shape through the end of the year. liz: look at this drop in oil.
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quarter to date, oil is down 18%. gasoline is down 22% over the past three months. that has to be more money in the consumer's pockets and has to be a relief. >> i would think the fed has to be smiling. what people are expending at the gas pump in the holiday season, more than any other holiday biplane or by car. we've had oil in the past, just a couple seconds ago the interesting trade are the airlines. no one has ever made money in the airlines. it's a great way to play energy. energy comes in a positive for the airlines. they make money on the energy sides.
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we happened to be longer. earnings were good. to the mid-30s, couldn't do it fast enough. even at current levels. oil comes in for the next couple weeks. in a couple months the airlines are going up again. liz: you have been with us since day one, 16 years ago, happy thanksgiving, my friend. >> same to you. thank you. liz: teddy weisberg, the one, the only. remember when people actually lined up in mall parking lots predawn to be the first to go charging through the doors for the black friday deals? online retail put a end to much of that chaos and now, the buy now pay later sites, one of them is here next live.
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arriving and international flights. we have people trying to leave or get home to family for thanksgiving holiday. this is a serious situation fox news has confirmed via sources was an attempted terrorist attack, fox news has sources saying that. we are also getting from governor kathy hochul of new york, the joint terrorism task force monitoring all entry points into the state of new york from canada, traveling to buffalo and update new yorkers when more information becomes available. let us take a turn as a business network, the dow is up 193 points. as we barrel toward black friday got on the big shopping day, is it on life support?
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americans are no longer as inclined as they used to be to stand around in the early don hours in the cold or wherever you are after thanksgiving to rush the doors when their favorite retailer opens up. a new study found 49% of american shoppers are like wait a minute, there are better deals at other times of the year. all holiday spending overall is expected to climb 3%, to $957 billion which would push above pre-pandemic levels for the first time since the pandemic in 2020. what does that mean for the future of holiday shopping sales and the biggest emerging trend in 10 years, by now pay later. let's bring in the ceo and a fox business exclusive. happy holidays. is in person black friday dying
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that? is it hanging by a gossamer thread? >> not at all. what was referred to as revenge spending, i'm usually nodding to horoscopes and predicting the future here but one hundred 50 consumers globally, 30 million in the us, 500,000, i am seeing a weakening get of consumer spending, not entirely sure they will be able to reach. you can definitely see the interest rate cost, inflation, people are spending less and less, seeing softening in the spending. liz: we hear warnings from the retailers out there, we bring a warning to viewers in a minute but another one that didn't
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come out, many of these companies depending which company, no problem hitting our targets but what do you think it is? psychological fear that the economy will slow down? what has people so cautious, inflation is retreating just a bit. >> people got free checks from government, the biggest declination of credit card debt for decades as people use those to shore up savings and pay off debts and support. credit card debt has come back strong, over $1 trillion and this, interest rates are racing and takes time for consequences to impact. what people tend to miss is cost is a major impact but also
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volatility, creates unpredictability and causes people to overspend in a difficult financial situation. the culmination of those things unfortunately what we are seeing an ai that we haven't seen yet which is unemployment especially middle income where these jobs are under threat from what's going on. liz: got to ask what you do to make sure you are not holding the bag when things go south, credit card delinquencies uptick slightly but american credit card debt is at a record one $0.08 trillion, balances are up 15% year-over-year. how much tightened your i guess vice grip on making sure you are not stuck with customers who get into deep water. >> that is what is misunderstood about by now pay
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later, 0 interest, fixed installments. we took a look at what people resent about credit cards, the hidden fees, the credit card companies, trying to get people to build big balances as possible. 25% of us consumers looking get for alternatives. offering fixed installments and short payback cycles, 12 times a year we do real-time underwriting. if i change my underwriting, in two months, 50% of the balance sheet is underwritten according to the new standards which make it years to accomplish. the product is built for this and for a consumer actively choosing to go away from credit cards because they understood these products are less in their favor.
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liz: let us know how black friday goes. appreciate your honesty about seeing a slowdown that we may not see those high numbers predicted for pre-pandemic spending to return but thank you very much. happy holidays. up next we are heading to the grocery store, will make enough gravy for thanksgiving, could fill an entire swimming pool. stew leonard junior is about to join us about the process in determining demand and the make sure you don't run out or over order. he decides how to make gravy, football fields, why he plans on selling 15,000 turkeys. standby, we are coming back to you in a minute. rude. who are you? i'm an investor in a fund that helps advance innovative
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liz: more breaking news about the situation in niagara falls, looking at the aftermath of what fox news sources say was an attempted terror attack the rainbow bridge border crossing in niagara falls, new york. i need you to look at this picture. this is one of the first pictures we are getting of seconds after the explosion of a car carrying two passengers from the us to canada towards a customs and border patrol building. sources at fox news say the two in the car died and the car was carrying multiple explosives. this is one of the busiest travel days of the year, all the border crossings have been closed and the faa closed the buffalo international airport, departing and arriving international flights. tsa ramping up security following this attempted attack.
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grady trump let dollars international airport. grady? >> reporter: i can tell you at this airport we've not seen any major changes in terms of security posture here as a result of this explosion and possible terrorist attack you were just mentioning. what people are flying today, travelers can expect to notice an increased law enforcement and canine presence in the transportation system. tsa is operating at a heightened level of security as a result of world events and the current threat environment. the tsa says 2. 6 million people went through airport checkpoints across the country yesterday, exactly is a number they were projecting. today they expect 2.7 million people to go through screenings. the original concern was storm that was making its way across
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the south and the mid-atlantic that is mostly moved off the coast of the united states but not after doing its damage to the transportation system, 5500 flights delayed yesterday. when i last checked the number was 2200 but the flyers we talked to, even those with flights canceled as a result of the weather are in good moods still. let's listen. >> absolutely empty. it has been awesome. >> you seem in good spirits. >> they gave us a place to say. hopefully everybody can get back to it. >> just checked my apps. >> it has been perfect. no problems. >> the tsa and the dhs say they
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are just postures, anyone traveling today, and the heightened security airports. liz: at buffalo international, it is full closure, no departures, no landings, let's show this. this photograph is shortly after the car approaching the rainbow bridge inspection area exploded. the border between the us and canada. the niagara gazette newspaper citing law enforcement sources said the car sped onto the bridge plaza, the inbound lanes from the outbound lanes, toward the inspection lanes where it then exploded killing both
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people, injuring one border patrol officer. we are getting lots of headlines as we progress through this our. we will bring them to you, hopefully get to the core for last minute thanks giving out in the grocery store owners have sky high expectations for how much food they are going to sell this holiday season. we get ready to dive into the thanks giving gabriel, look at the swimming pool. and it will sell enough gravy to fill swimming pool, that would be the equivalent of 20,000 ports of gravy. how do they assess, how do they make sure they don't over order, and joining us from the meat aisle, happy holiday.
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>> bonjour, lizzie. liz: hello. by the swimming will assessment, the fact that -- >> i have a gravy right here. liz: tell me how many pies you expect to sell. >> 30,000 pies, a swimming pool of gravy, cranberry sauce in the kitchen, mashed potatoes, wild stuffing this, turkeys are the mainstay. liz: how do you as a business owner with a chain assess, you don't want to be left with extra food that isn't so much
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in demand. at a time you don't want to be overspending yourself because it is coming down but inflation is staying. >> that is the biggest challenge. how many turkeys the order, how much cranberry sauce do you make? we can evaluate on a day by day basis. that is helpful for us. a lot of prosperous doesn't get outsourced. turkeys come in. what happens when you order too many turkeys? we put them in the freezer and use them on our hot buffets. you know, you make some mistakes some years, and some years you do pretty good. another thing we do is give it to a lot of needy families and
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senior citizens. we have very little food to go through. liz: i wish you and your employee base a happy holiday. thank you so much. >> you want to live to be a hundred? liz: depends how much chocolate i can stockpile. >> netflix did a study in the village, there is the purple sweet potatoes right here. these are the hot items from thanksgiving, they are gobbling them. liz: we see a trend. thank you. fedex may have left over pies, i am good with that. we are back with more on the breaking news at the rainbow bridge in niagara falls in new york. stay tuned.
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a car on rainbow bridge. and by the way, that explosion, fox news is reporting is being investigated as an attempted terrorist attack. nypd will give you an update
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this afternoon at a prearranged security briefing ahead of tomorrow's thanksgiving day parade, the macy's parade. gerri willis, you have eyewitness testimony here, liz? >> just to go over basics here, just hours ago we heard about the incident originally. we thought a terror attack, described as an incident at the new york-canadian border, at the rainbow bridge very close to niagra falls. as a result the tsa is operating at a hyper security posture. the explosion resulted in the death after two people. a border patrol officer was injured. original reports of the begin it was explosion of a car which was packed with explosives and then a fire ensued. you've been showing viewers picture of the fire in the upper right corner. the pair were driving from the u.s. in the direction of canada, trying to drive to the customs and border patrol building.
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here the sound. this is an eyewitness account of that event. >> it went airborne. the vehicle began to turn sideways and went under something overhead, it hit something over there and my prayer was please, don't let it, any of the officers, you know, get hit over there. all of sudden, black smoke, no explosion. people heard it, metal on metal. all of sudden i saw black smoke and then fire. >> reporter: you heard that. that is an eyewitness account of the explosion at the new york canadian border at the rainbow bridge, very close the rainbow bridge at entrance to it. buffalo office of the fbi is leading investigation with the assistance of local and state law enforcement and canadian law enforcement. they're describing the situation as fluid. there are really more questions than answers at this point. prime minister trudeau weighing in saying four border crossings are closed.
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additional measures are being contemplated. we'll keep you updated on the store story. we'll continue to follow the headlines this afternoon, liz. pretty dramatic story at the border. back to you. liz: listen you don't want it at anytime right around the holiday season. buffalo airport is closed for the moment. we'll follow it, gerri. thank you for the update. national security council spokesperson john kirby told fox news quote, it is too early to rule anything in or out when it comes to the active situation on the rainbow bridge. we just have about one minute left before the closing bell rings. we need to bring up nvidia here. we're seeing a little profit-taking. it is down 2 1/2% because came out with earnings which were wonderful and strong but you know the bar was high. so our "countdown closer" is looking at that and another name that is dabbling in a.i. he says is a better pick that is adobe, right? gus? >> yes, liz, we like adobe.
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we went through a period where there was experimentation in terms of a.i., there i amly meanting it. they have something called firefly. we seen it or seen it used in commercials we're putting together for our company. instead of waiting a few weeks to get our commercial put together, it can actually happen in couple hours. productivity gains are pretty immense. adobe will be one of the early adopters in terms of using a.i. for their client base so we're very positive on the name. liz: adobe is up 1 1/2% right now, while nvidia we said false 2 1/2%. gust scacco sorry for the compressed time we had today due to breaking news. gang, thank you, thank you, we're thankful for our viewers. we wish you a very happy and safe holiday weekend. [closing bell rings] shopify ceo joins us on monday. give us exclusive on all the

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